The correct answer is b. franchisee.
A franchisee is a company or individual who pays for the legal right to use the product, service, or format of another established and successful business, known as the franchisor. By becoming a franchisee, individuals or companies can operate under an established brand name and benefit from the franchisor's proven business model, support systems, and brand recognition.
Franchising is a business model that allows for the expansion of a successful business through the establishment of new locations or outlets operated by franchisees. The franchisee typically pays an initial franchise fee and ongoing royalty fees to the franchisor in exchange for the right to use their brand, trademarks, and operating systems.
Becoming a franchisee offers several advantages. Firstly, franchisees can leverage the reputation and brand recognition of the franchisor, which can lead to a faster start and increased customer trust. Additionally, franchisees receive training and ongoing support from the franchisor, including assistance with site selection, marketing, and operational guidance.
However, it is important for franchisees to carefully review the terms of the franchise agreement and understand their obligations and limitations. Franchisees must adhere to the franchisor's guidelines and standards to maintain consistency across all franchise locations.
Overall, being a franchisee can be a rewarding business opportunity for individuals or companies looking to enter a proven market with an established brand and support system.
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an inherent problem for couples involved in a family business is that
An inherent problem for couples involved in a family business is that they tend to have blurred lines between their professional and personal lives.
Couples who own and operate a family business face several unique challenges, including the inherent problem of blurred lines between their professional and personal lives. In a family business, the usual boundaries that exist between work and family life often get blurred, making it difficult for the couple to establish clear roles and boundaries for their personal and professional lives.The problem arises because couples are not just business partners, but they are also romantic partners. They have to play different roles in the company as well as their personal life. It is not easy to separate their personal and professional life, which can cause friction and stress in both spheres. They might end up discussing work-related problems at home or discussing personal matters at work, which can have negative effects on both their personal and professional lives.Furthermore, couples who are part of a family business often feel the pressure to perform better than their competitors since the success or failure of the business affects not just their livelihood but also their relationship. This can result in added stress and tension in their relationship, leading to a lack of intimacy, communication breakdown, and ultimately divorce.In conclusion, the inherent problem for couples involved in a family business is that they tend to have blurred lines between their professional and personal lives, making it challenging to maintain a healthy relationship.
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Assume further that Ali wants to determine the most it should pay to purchase particular ordinary annuity. The annuity consists of cash flows of 5000 SR at the end of each year for 8 years. Ali requires the annuity to provide a minimum return of 9%. Formula: Financial table:
Ali wants to determine the maximum price he should pay to purchase an ordinary annuity with cash flows of 5000 SR at the end of each year for 8 years. He requires a minimum return of 9%. We can use the formula for the present value of an ordinary annuity to calculate the maximum price Ali should pay for the annuity.
The formula for the present value of an ordinary annuity is:
PV = C * [(1 - (1 + r)^-n) / r]
Where:
PV = Present value of the annuity
C = Cash flow per period (5000 SR)
r = Discount rate or required return (9% or 0.09 as a decimal)
n = Number of periods (8 years)
By plugging in the values into the formula, we can calculate the present value of the annuity. This represents the maximum price Ali should be willing to pay for the annuity in order to achieve his desired minimum return of 9%. If the price of the annuity is higher than the calculated present value, it may not meet Ali's return requirements, and he may need to consider alternative investment options.
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Discuss the differences between short run VS long run Firm
Supply in competitive market competition, use graphs to illustrate
your answers
In competitive markets, the short-run and long-run supply curves of a company vary in terms of cost and production, as well as market expectations. Below are the differences between short-run vs. long-run firm supply in competitive market competition.
Differences between Short-Run and Long-Run Firm Supply in Competitive Market Competition
Short-Run Supply: In the short run, firms operate with fixed factors of production, such as capital and land, and only adjust their variable factors of production, such as labor and raw materials, to meet current demand. In the short run, costs of production cannot be modified. As a result, a firm's short-run supply curve is upward sloping because as demand rises, the firm will increase production by using more variable inputs.
Long-Run Supply: In the long run, all factors of production are variable and can be adjusted to the desired level. As a result, businesses can change their capital investment, building sizes, etc. In the long run, production costs can be changed, so a firm's long-run supply curve is completely elastic.
Firms in competitive industries will earn normal profits in the long run because the entry of new businesses into the industry will push down the price to the point where normal profits are earned. In conclusion, a company's short-run and long-run supply curves differ greatly. In the short run, the supply curve is upward-sloping, indicating that as demand increases, the firm will increase production by using more variable inputs. In the long run, the supply curve is perfectly elastic, indicating that a firm can change its entire production process to meet the desired level of demand.
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Which of the following diversity issues is true in the U.S. workforce?Among the top 500 U.S. companies, most currently do not yet offer domestic partner benefits forsame-sex couples.Unemployment among the disabled has dropped sharply since the introduction of the Americans withDisabilities Act.The median age of the American worker is increasing.
Among the three diversity issues mentioned in the question, the one that is true in the U.S. workforce is that the median age of the American worker is increasing. The workforce of the U.S. is becoming older with the passing of time. More than 20% of U.S. workers are over 55 years of age, and this number is growing steadily.
By the year 2024, it is expected that one-quarter of the American workforce will be over the age of 55.According to research, there are various reasons why the median age of the American worker is increasing. One reason is that people are living longer, so they are working for longer periods of time. Additionally, the baby boomer generation (those born between 1946 and 1964) is reaching retirement age. Since this is a large group of people, their retirement is increasing the median age of the workforce.Another reason is that younger people are not entering the workforce at the same rate as older people are leaving it. There are fewer young people in the workforce due to a combination of lower birth rates and less immigration. The combination of all these factors means that the median age of the American worker is increasing.
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The assets of a mutual fund are $25 million. The liabilities are $4 million. If the fund has 700,000 shares outstanding and pays $1.50 dividend, what is the dividend yield?
The dividend yield is found to be 20% for the given shares outstanding and liabilities.
Given,
The assets of a mutual fund are $25 million
Liabilities are $4 million
Shares outstanding = 700,000
Dividend = $1.50
We know that the Net Asset Value (NAV) of a mutual fund is calculated as follows;
NAV = (Assets - Liabilities) / Shares Outstanding
= ($25 million - $4 million) / 700,000
= $21 million / 700,000
= $30 per share
The dividend yield can be calculated as the ratio of the annual dividend payment to the NAV of the mutual fund.
Here, since the dividend is $1.50 per share, the annual dividend payment per share is;
$1.50 x 4 = $6 per share
Therefore, the dividend yield will be;
Dividend Yield = (Annual Dividend Payment / NAV) x 100% = ($6 / $30) x 100% = 20%
Thus, the dividend yield is 20%.
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You are a healthcare financial analyst at San Gabriel LabCorp, a blood and pathology laboratory with clinical lab networks throughout Northern California. San Gabriel LabCorp now enforces a uniform policy of utilizing inventory (consisting mostly of test tubes, vials, storage accessories, and sample/test kits) "in order of precedence." so that inventory with earlier expiry or purchase dates is taken out and used ahead of more recent purchases. As a healthcare financial analyst, which would you use as the most suitable inventory valuation method at San Gabriel LabCorp? O FIFO ovariance analysis O weighted averaging (WA). O specific identification O time-frame analysis OLIFO
As a healthcare financial analyst at San Gabriel LabCorp, a blood and pathology laboratory with clinical lab networks throughout Northern California, the most suitable inventory valuation method that I would use at San Gabriel LabCorp is FIFO. FIFO is an acronym that stands for First In First Out, and it is a technique used to determine the order in which inventory is sold or used, with the oldest inventory items being sold first.
In a company that handles inventory that has a limited shelf life like San Gabriel LabCorp, the FIFO method is the most suitable inventory valuation method because the company enforces a uniform policy of utilizing inventory (consisting mostly of test tubes, vials, storage accessories, and sample/test kits) in order of precedence. This policy implies that the inventory with earlier expiry or purchase dates is taken out and used ahead of more recent purchases.
The FIFO method assumes that the oldest inventory items in a company's inventory are used first, ensuring that the cost of inventory remaining in stock is recorded at the most recent and current market price. In this way, the cost of goods sold and the ending inventory on the company's income statement and balance sheet, respectively, reflect the cost of the most recently acquired inventory.
Furthermore, the FIFO method is easier to understand and apply compared to other inventory valuation methods, and it does not require sophisticated software or advanced accounting skills to implement. It is also less likely to result in errors and misinterpretations compared to other inventory valuation methods.
In conclusion, the FIFO method is the most suitable inventory valuation method for San Gabriel LabCorp as a healthcare financial analyst.
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famous slogan "what else?" have been synonymous with the brand. Cloon embodies the values and the image of the brand in terms of elegance and prestige. In the U.S., Penelope Cruz is the brand ambassador. In Asian cou the communication focuses on the fact that Nespresso symbolizes the pe cup of coffee at home or at high-end restaurants. The brand's unique and positioning has allowed it so far to keep the competition-Tassimo (Mond Senseo (Sara Lee), and in particular the Nespresso compatible capsules ( more than 50 brands offer capsules that fit in the Nespresso machines)- Some competitors tried to use an ecological argument to discredit the bra saying that Nespresso capsules were very polluting. This led the company develop its own circuit of recovery of used capsules. Recently, Nespresso been facing some serious competition and is at risk of losing market shar Jacobs Douwe Egberts, formed from the strategic merge of the Dutch Do Egberts and the American Mondelez. Jacobs Douwe Egberts is the curren number one coffee company in the world with a turnover of over $4 billion order to reinforce its position in the coffee market and reclaim its spot as market leader, the Nestlé Group should aim to strengthen the high-end positioning of Nespresso. Required:- 1) Summarize the case. 2) Answer the following questions: A. What are the main positioning bases used by Nespresso to reir its brand positioning in the market? B. Why has Nespresso's first repositioning on the consumer mark to the success of the brand? C. Will the unique brand positioning of Nespresso enable it to resi competition from Jacobs Douwe Egberts? how? 3) What recommendation do you give to Nespresso marketing mana strengthen the high-end brand positioning of Nespresso and stay market leader. famous slogan "what else?" have been synonymous with the brand. Cloon embodies the values and the image of the brand in terms of elegance and prestige. In the U.S., Penelope Cruz is the brand ambassador. In Asian cou the communication focuses on the fact that Nespresso symbolizes the pe cup of coffee at home or at high-end restaurants. The brand's unique and positioning has allowed it so far to keep the competition-Tassimo (Mond Senseo (Sara Lee), and in particular the Nespresso compatible capsules ( more than 50 brands offer capsules that fit in the Nespresso machines)- Some competitors tried to use an ecological argument to discredit the bra saying that Nespresso capsules were very polluting. This led the company develop its own circuit of recovery of used capsules. Recently, Nespresso been facing some serious competition and is at risk of losing market shar Jacobs Douwe Egberts, formed from the strategic merge of the Dutch Do Egberts and the American Mondelez. Jacobs Douwe Egberts is the curren number one coffee company in the world with a turnover of over $4 billion order to reinforce its position in the coffee market and reclaim its spot as market leader, the Nestlé Group should aim to strengthen the high-end positioning of Nespresso. Required:- 1) Summarize the case. 2) Answer the following questions: A. What are the main positioning bases used by Nespresso to reir its brand positioning in the market? B. Why has Nespresso's first repositioning on the consumer mark to the success of the brand? C. Will the unique brand positioning of Nespresso enable it to resi competition from Jacobs Douwe Egberts? how? 3) What recommendation do you give to Nespresso marketing mana strengthen the high-end brand positioning of Nespresso and stay market leader.
Nespresso can enhance its premium brand positioning, set itself apart from rivals, and hold onto its position as the market leader in the coffee sector.
1) Case synopsis: The case is around the coffee brand Nespresso, which belongs to the Nestlé Group. Focusing on style, prestige, and superior coffee, Nespresso has developed a strong brand identity and market positioning.
2) Responses to the inquiries:
A. Nespresso uses the following primary positioning pillars to support the market positioning of its brand:
- Celebrity endorsements: Nespresso has partnered with well-known figures like George Clooney and Penelope Cruz, who represent the refinement and distinction of the brand.
- Distinctive communication tactics: Nespresso conveys that it makes the ideal cup of coffee for consumption at home or in upscale restaurants, establishing a link between the brand and the coffee experience.
B. Nespresso's initial repositioning on the consumer market helped the brand succeed since it successfully set itself apart from rivals.
Nespresso was successful in attracting a specific client base of people prepared to pay more for high-quality coffee by concentrating on the high-end market and highlighting the brand's distinctive attributes. Nespresso was able to establish itself as the market leader for coffee because to this approach.
C. Nespresso's distinct brand positioning can help it fend off competition from Jacobs Douwe Egberts. Nespresso has a devoted following of customers who cherish the brand's unique experience thanks to its emphasis on high-end positioning and strong brand image.
Nespresso should continue to develop its premium brand positioning and concentrate on offering great coffee quality, distinctive flavours, and a superior customer experience in order to keep its competitive edge.
3) Advice for Nespresso marketing managers to fortify the premium brand positioning and preserve market dominance:
- Keep funding celebrity endorsements: Work together with powerful individuals who share the company's opulent and prestigious image to strengthen brand recognition and draw in new clients.
- Develop innovative and varied product lines: Create a sense of exclusivity by introducing novel coffee flavours, limited editions, and cutting-edge brewing techniques to meet changing consumer tastes.
– Improve the client experience: To increase client loyalty and happiness, concentrate on offering exceptional customer service, individualised advice, and simple ordering procedures.
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Does the central bank of india have a target for the inflation rate. If yes, what is the implication of the target for their economic policy.
The target for inflation is an important aspect of RBI's economic policy. It helps maintain price stability, reduce uncertainty, and support long-term economic growth.
Yes, the central bank of India does have a target for the inflation rate. In India, the Reserve Bank of India (RBI) is the country's central bank. Its primary aim is to manage monetary policy, which is the process by which the government manages the money supply and interest rates to achieve its macroeconomic objectives. Inflation control is one of RBI's primary goals. The RBI's current target for inflation is 4% within a range of +/- 2%.
The target for inflation has implications for the country's economic policy. RBI uses a range of monetary policy tools to achieve its objectives. If inflation is higher than the target rate, RBI may increase interest rates or reduce the money supply to bring it back to the desired level. By doing this, RBI aims to maintain price stability and reduce inflation expectations.
On the other hand, if inflation is lower than the target rate, RBI may decrease interest rates or increase the money supply to stimulate the economy and encourage growth. However, if inflation expectations are not anchored, monetary policy could be less effective in achieving the target rate.
Overall, the target for inflation is an important aspect of RBI's economic policy. It helps maintain price stability, reduce uncertainty, and support long-term economic growth.
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A board of directors is typically made up of both ________ and ________ directors.
A) junior; senior
B) inside; outside
C) experienced; inexperienced
D) novice; expert
E) paid; unpaid
A board of directors is typically made up of both inside and outside directors. A board of directors is a group of individuals responsible for overseeing the strategic direction and decision-making of a company.
It is composed of individuals with diverse backgrounds and expertise who collectively govern the organization. When it comes to the composition of the board, there are typically two types of directors: inside directors and outside directors.
Inside directors are individuals who are also executives or employees of the company. They have an intimate knowledge of the company's operations, strategies, and internal workings. Inside directors often include the CEO, other top executives, and sometimes representatives of major shareholders.
On the other hand, outside directors are independent individuals who are not employed by the company. They bring an external perspective and offer objective judgment in board discussions and decision-making. Outside directors are typically chosen for their expertise, industry knowledge, and experience in areas such as finance, law, or governance.
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Vince Company has a unit selling price of $250, variable cost per unit of $160, and fixed costs of $135,000. Instructions: Calculate the break-even point in units using: (a) the mathematical equation and (b) contribution margin por unit.
Break-even point is defined as the level of sales at which profit is zero. In other words, it is the minimum level of output where the company’s total revenue is just enough to cover its total costs. The break-even point can be determined using two methods: mathematical equation and contribution margin per unit.
Vince Company has a unit selling price of $250, variable cost per unit of $160, and fixed costs of $135,000. To calculate the break-even point using the mathematical equation, we can use the formula: Break-even point (units) = Fixed Costs / Contribution Margin per unit Contribution margin per unit is calculated by subtracting variable cost per unit from the selling price per unit.
Hence, the contribution margin per unit for Vince Company would be: Contribution margin per unit = Selling price per unit - Variable cost per unit= $250 - $160= $90Therefore, the break-even point in units using the mathematical equation would be: Break-even point (units) = Fixed Costs / Contribution Margin per unit= $135,000 / $90= 1,500 units
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In this reflective report, you will be discussing about your learning experience in this unit, the relevance of the unit material and assessments in the unit to your understanding of management accounting in general, and your understanding of how management accounting concepts and techniques assist managers in making decisions to real world business problems. Specifically, you are to provide reflections or comments on each of the following: 1. Comment on what knowledge you have gained about managerial accounting and how will it be useful to you in your future? (4 marks
This unit has provided me with a deep understanding of management accounting concepts and techniques. I have learned about the importance of management accounting in decision-making processes. I believe that the knowledge I have gained from this unit will be beneficial to me in my future career as a business owner or manager.
In this unit, I learned that managerial accounting is a vital part of the decision-making process of any business. I learned about the various aspects of management accounting, such as cost accounting, budgeting, and financial analysis. I also learned about the different types of cost systems used by organizations, such as job costing and process costing. Additionally, I gained an understanding of the importance of financial reporting in management accounting.
One of the most significant things I learned from this unit is that the primary goal of management accounting is to assist managers in making informed business decisions. Management accounting provides managers with critical information about a business's financial performance, which they can use to make sound business decisions. This information includes data on costs, revenues, profits, and other financial metrics.
The knowledge I gained from this unit will be useful to me in the future because it will help me make informed business decisions. As a future business owner or manager, I will need to understand how to analyze financial data and make decisions based on that data. This knowledge will enable me to make sound business decisions that will help my organization grow and succeed.
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a) Using a well labeled supply & demand model in the market for labor, show the impact of a tax on wages (i.e. an income tax). Use your graph to make at least two positive and at least two normative statements about income taxes. b) Most people have taxes withheld from their paycheck and then file for a refund at tax time in April. Many people withhold too much and yet they are happy when they get a big refund. Why is withholding too much is irrational and, using the concepts of behavioral economics, why might this be predictably irrational. I c) The tax code is full of deductions and credits that provide incentives for different behaviors. Do some quick research and describe one of those deductions or credits and use economic vocabulary to explain how it changes people's incentives
a) Impact of a tax on wages using supply & demand model: Tax on wages or income tax is a direct tax levied on the income of individuals. The tax is usually computed as a percentage of the earned income of the taxpayer.
A tax on wages will shift the supply curve of labor to the left as it will reduce the take-home pay of workers and thereby increase the opportunity cost of working. As a result, fewer people will be willing to work. On the other hand, the tax on wages will increase the amount of government revenue, thereby increasing the availability of public goods. Below is the graphical representation of the effect of a tax on wages. Positive and normative statements about income taxes Positive Statements: I.
A tax on wages will reduce the amount of disposable income available to workers. ii. The government will generate more revenue with a tax on wages. Normative Statements: i. The government should tax wages to reduce the inequality in society. ii. The government should tax wages to fund more public goods. b) Why is withholding too much irrational and why might this be predictably irrational? Withholding too much money from one's paycheck is irrational because it results in a lower take-home pay.
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Define inflationary gap.
Require about 200 words. DO NOT COPY AND PASTE. please be
precise to the question and answer in OWN WORDS.
An inflationary gap refers to a situation in an economy where the level of aggregate demand exceeds the economy's potential output or the level of real GDP that can be sustained in the long run without causing inflationary pressures.
It is characterized by an imbalance between the demand for goods and services and the economy's capacity to produce them. When the aggregate demand exceeds the economy's potential output, it leads to a situation where there is excessive pressure on resources such as labor, capital, and raw materials. This increased demand for leads to upward pressure on wages and prices, resulting in inflation.
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Why is it important that we see the parallels between incarceration and slavery?
By recognizing the parallels between incarceration and slavery, we can begin to understand how these systems work together to perpetuate racial oppression. We can also begin to see how the legacy of slavery continues to impact black communities today.
It is important to recognize the parallels between incarceration and slavery because the mass imprisonment of black people is often viewed as a continuation of slavery. The modern-day prison system has disproportionately affected black people and other minorities, with black men making up the majority of the prison population.
Just as slavery was used to control and exploit the labor of black people, mass incarceration is often used to exploit the labor of prisoners, many of whom are black. This exploitation takes many forms, including forced labor, low-paid labor, and unpaid labor. In some cases, prisoners are forced to work in dangerous or unhealthy conditions without adequate protection or compensation.
Additionally, the racist and oppressive attitudes that underpinned slavery continue to influence the criminal justice system today. This is evident in the disproportionate policing of black communities, the harsher treatment of black suspects and defendants, and the longer prison sentences handed down to black people. These disparities are often the result of implicit bias, institutional racism, and systemic inequality.
This awareness is essential if we hope to create a more just and equitable society for all people.
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The
Cloth Center
sells fabrics to a wide range of industrial and consumer users. One of the products it carries is denim cloth, used in the manufacture of jeans and carrying bags. The supplier for the denim cloth pays all incoming freight. No incoming inspection of the denim is necessary because the supplier has a track record of delivering high-quality merchandise. The purchasing officer of the
Cloth Center
has collected the following information:
Annual demand for denim cloth
37,500 yards
Ordering cost per purchase order
$150
Carrying cost per year
30% of purchase costs
Safety-stock requirements
None
Cost of denim cloth
$6 per yard
The purchasing lead time is 2 weeks. The
Cloth Center
is open
250
days a year
(50
weeks for 5 days a week).
Question content area bottom
Part 1
Requirement 1. Calculate the EOQ for denim cloth.
Begin by selecting the formula used to calculate
EOQ.
(D=Demand
in units for one year,
P=Ordering
cost per purchase order,
C=Carrying
cost of one unit in stock,
Q=Any
order quantity.)
▼
ModifyingAbove EOQ equals StartFraction Upper D Over left parenthesis 1 plus Upper P right parenthesis Superscript Upper C EndFraction With EOQ=D(1+P)C
ModifyingAbove EOQ equals StartRoot StartFraction 2 DP Over Upper C EndFraction EndRoot With Subscript EOQ=2DPC
ModifyingAbove EOQ equals StartFraction DP Over Upper Q EndFraction plus StartFraction QC Over 2 EndFraction With EOQ=DPQ+QC2
Part 2
(Round the denominator to the nearest cent.)
The EOQ for denim cloth is
yards.
Part 3
Requirement 2. Calculate the number of orders that will be placed each year.
Determine the formula used to calculate the number of orders that will be placed each year, then calculate the orders per year.
÷
=
Number of orders
Part 4
÷
=
orders per year
Part 5
Requirement 3. Calculate the reorder point for denim cloth.
Determine the formula used to calculate the reorder point for denim cloth, then calculate the reorder point.
×
=
Reorder point
×
=
yards
The purchasing lead time is 2 weeks, equivalent to 10 working days, and the demand per year is 37,500 yards, calculate the daily demand.
To calculate the Economic Order Quantity (EOQ) for denim cloth, we will use the formula: EOQ = √((2 * D * P) / C)
Where: D = Annual demand for denim cloth = 37,500 yards
P = Ordering cost per purchase order = $150
C = Carrying cost of one unit in stock = 30% of purchase cost = 0.3 * $6 = $1.8 per yard
Now let's substitute the values into the formula:
EOQ = √((2 * 37,500 * 150) / 1.8)
EOQ = √(1,125,000 / 1.8)
EOQ = √625,000
EOQ = 790.6 (rounded to the nearest whole number)
Therefore, the EOQ for denim cloth is approximately 791 yards.
To calculate the number of orders that will be placed each year, we divide the annual demand by the EOQ:
Number of orders = Annual demand / EOQ
Number of orders = 37,500 / 791
Number of orders = 47.42 (rounded to two decimal places) Therefore, the number of orders that will be placed each year is approximately 47.42.
To calculate the reorder point for denim cloth, we need to consider the lead time and the average demand during that lead time. The reorder point formula is: Reorder point = (Demand per day * Lead time) + Safety stock. Since there are no safety stock requirements mentioned, the formula simplifies to: Reorder point = Demand per day * Lead time
Daily demand = Annual demand / Number of working days
Daily demand = 37,500 / 250
Daily demand = 150 yards
Now, substitute the values into the reorder point formula:
Reorder point = 150 * 10
Reorder point = 1500 yards.
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2 Determine the proceeds of a promissory note with a maturity value of $1,800 due on September 30, 2022, discounted at 8.5% compounded semi-annually on March 31, 2019. (5 marks)
The proceeds of the promissory note, discounted at 8.5% compounded semi-annually, on March 31, 2019, would be approximately $1,636.34.
To determine the proceeds of a promissory note, we need to calculate the present value of the note, taking into account the discount rate and compounding periods.
Given:
Maturity value of the note = $1,800
Maturity date = September 30, 2022
Discount rate = 8.5%
Compounding periods = semi-annually
Discount date = March 31, 2019
First, we need to calculate the number of compounding periods from the discount date to the maturity date:
Number of compounding periods = (Maturity date - Discount date) / (Compounding period)
Number of compounding periods = (September 30, 2022 - March 31, 2019) / 6 months
Number of compounding periods = 3.5 years / 0.5 years
Number of compounding periods = 7 compounding periods
Next, we can calculate the present value of the promissory note using the formula:
Present Value = Maturity Value / (1 + (Discount rate / Number of compounding periods))^Number of compounding periods
Present Value = $1,800 / (1 + (0.085 / 7))^7
Calculating the present value:
Present Value = $1,800 / (1.012142857)^7
Present Value ≈ $1,800 / 1.100009246
Present Value ≈ $1,636.34
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XYZ Ltd is a major manufacturer of medical diagnostic machines and advanced surgical equipment for the Health Services industry. XYZ LTD uses a complicated accounting information system called ZAP. Detailed below is a description of XYZ purchasing and payments system.
(i) When the production department requires items to be purchased, a pre-numbered purchase order is created, which is manually entered into the ZAP computer system by the procurement supervisor. The purchase order is then automatically routed to the purchasing department, who then forwards it to the accounts payable clerk when it is ready.
(ii) When the goods are received, the receiving department logs the shipment by entering "order received" in the ZAP computer system which also compiles a date and time-based receiving report of all confirmed deliveries at the end of the day. One copy of the receiving report is filed in the receiving department and the other is forwarded to the accounts payable department.
(iii) The accounts payable clerk matches the purchase order number, confirms the date of goods delivery, based on the receiving report, and then obtains the supplier’s invoice, which is normally sent by mail. When the invoice is received, the Accounts payable clerk then enters "Approved" in the ZAP computer system.
Required:
Question (i) – (iii) identified above, identify the control weaknesses and outline control measures/recommednations which describe what XYZ Ltd can do to address the weaknesses identified.
The control weaknesses in XYZ Ltd's are manual entry of purchase orders, lack of verification of goods received, and lack of three-way matching. Control measures are an automated purchase order entry system, verifying goods received and verifying the invoice amount .
Control weaknesses:
(i) Manual entry of purchase orders-The manual entry of purchase orders increases the risk of errors and fraudulent activities such as unauthorized purchases. There is also a risk of duplicate orders being created.
(ii) Lack of verification of goods received- The receiving department only logs that the order has been received, but there is no verification of the quantity or quality of goods received. This increases the risk of errors in inventory management and the possibility of fraudulent activities such as receiving goods that were not ordered.
(iii) Lack of three-way matching-The accounts payable clerk only matches the purchase order number and the date of goods delivery based on the receiving report. There is no verification of the invoice amount, which increases the risk of overpayment or payment for goods not received.
Control measures/recommendations
(i) Automated purchase order entry- Implementing an automated system for purchase order entry can reduce the risk of errors and fraudulent activities. This can include a system that requires approval from multiple levels before the purchase order is created.
(ii) Verification of goods received- The receiving department should verify the quantity and quality of goods received before logging them in the system. This can include comparing the shipment to the purchase order and inspecting the goods for any damages.
(iii) Three-way matching- Implementing a three-way matching process that matches the purchase order, receiving report, and supplier invoice can reduce the risk of overpayment or payment for goods not received. This can include verifying the invoice amount and ensuring that all three documents match before approving payment.
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Consider the following sequential game. The seller offers a price PЄR+. The buyer observes the offer and then decides whether to accept. If the buyer accepts the offer, the seller gets a payoff of p-2 and the buyer gets V-p where is 8. But if the offer is rejected, then both players get payoffs of zero. In a subgame perfect equilibrium, the offered price will be:
In a subgame perfect equilibrium of the sequential game described, the seller will offer a price of P = 6. This is the price that maximizes the seller's payoff and induces the buyer to accept the offer.
To determine the subgame perfect equilibrium, we need to analyze the players' incentives and actions at each stage of the game. In this case, the seller makes the initial offer, and the buyer decides whether to accept or reject it.
If the seller offers a price lower than P = 6, the buyer's payoff would be higher than zero by accepting the offer. However, the seller's payoff would be negative (p-2) and therefore lower than zero. This creates a disincentive for the seller to offer a lower price, as it would result in a negative payoff.
If the seller offers a price higher than P = 6, the buyer would prefer to reject the offer since their payoff (V-p) would be higher than zero. In this case, the seller's payoff would also be zero, which is not the best outcome for the seller.
Therefore, the subgame perfect equilibrium occurs when the seller offers a price of P = 6. At this price, the buyer's payoff is V-6 = 2, and the seller's payoff is 6-2 = 4, maximizing both players' payoffs and inducing the buyer to accept the offer.
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At the end of the term, each class member is responsible to submit a paper which summarizes their current thinking on leadership and themselves as a leader. Included should be at least: (1) the identification of and rationale for the person's 2 of 5" most influential leadership strengths; (2) reflections regarding possible 'fatal flaws'; (3) discussion of at least three influential assessments (Leader's Self-Insights) completed during the class; (4) other important "lessons learned." Papers are to be well- written (no obvious errors) and no longer than three single-spaced pages in length." - your opinion of your 2 of 5 - of course, using the You are simply reporting on what you've learned in each of these four areas - "Fundamental Five" roles; your ideas on possible fatal flaws you personally may need to improve in; thoughts about results of the "Leader's Self-Insight" exercises I referred you to in the Online Lectures [though you can use any of the many that are included in the textbook]; and any other ideas you have about leadership "lessons learned." I believe a careful reading of the assignment should make things clear.
The paper should include the identification and rationale for two influential leadership strengths, reflections on possible fatal flaws, completed during the class, and other important lessons learned.
The assignment provides an opportunity for class members to reflect on their understanding of leadership and their own leadership abilities. Each person is required to identify and explain two of their most influential leadership strengths, providing a rationale for their choices. Reflecting on possible fatal flaws allows individuals to critically assess areas where they may need improvement in their leadership style or behavior.
The discussion of at least three influential assessments completed during the class encourages class members to reflect on their self-insights and the feedback received through the assessments. These assessments may provide valuable information about their leadership strengths, weaknesses, and areas for growth.
The assignment also encourages class members to share any other important lessons learned throughout the course. This allows individuals to integrate their knowledge and experiences, providing a comprehensive understanding of leadership and personal growth as a leader.
Overall, the assignment serves as a platform for class members to synthesize their understanding of leadership, evaluate their own leadership abilities, and reflect on their growth throughout the course. It promotes self-reflection, critical thinking, and the application of learned concepts in the context of leadership development.
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CAM Precision Sdn. Bhd. is an advanced manufacturing company listed in Top 100 hi-tech global ranking. This company shows a potential investment with interest return rate of 8% per year. Your family plan to invest RM (L3D x 1,000) + 15,000. Apply the simple interest and compound interest approach to calculate the total investment after FOUR (4) years. Assume that your family do not withdraw the money earned at the end of each year, but instead let it accumulate. Noted that L3D=1 (b) Based on the compound interest approach and its result from 1(a), after the 4th year, the company increase its return rate to 10% per year compounded every 6 months. Apply the effective interest rate per year to determine the total investment at the end of EIGHT(8) years.
The total investment at the end of EIGHT years is RM 24,467.25.
(a)Simple interest and Compound Interest approaches are two types of interest calculations used to determine the total investment after a certain period. CAM Precision Sdn. Bhd. is a hi-tech manufacturing firm that ranks among the top 100 in the world. An 8% interest rate is provided on potential investments. RM (L3D x 1,000) + 15,000 is the amount that your family has decided to invest. L3D=1 is the currency used. There are four years of investment that your family is interested in. The money is not withdrawn at the end of each year but is allowed to accumulate. Let's find out what the total investment will be after four years using the Simple interest and Compound Interest approaches.1
(a) Simple Interest approach:
Simple interest formula = P x R x T/100P is the principal
R is the rate of interest, T is the time period
Let's find out the amount using the simple interest method.
Principal (P) = RM (L3D x 1,000) + 15,000 = RM (1 x 1,000) + 15,000 = RM 16,000
Rate of Interest (R) = 8%Time period (T) = 4 years
Simple interest (SI) = P x R x T/100= 16,000 x 8 x 4/100= 5,120
Total investment after 4 years = Principal (P) + Simple Interest (SI) = 16,000 + 5,120 = 21,1201
(b)Compound Interest approach: Compound interest is calculated as follows: A = P (1 + r/n) ^ nt Where, A is the amount earned after t years, P is the initial principal amount r is the rate of interest n is the number of times the interest is compounded in a year
Let's find out the amount using the Compound interest method. Principal (P) = RM (L3D x 1,000) + 15,000 = RM (1 x 1,000) + 15,000 = RM 16,000Rate of Interest (r) = 8%Number of times interest is compounded (n) = 1Time period (t) = 4 years
Amount (A) = P (1 + r/n) ^ nt= 16,000 (1 + (8/100) / 1) ^ 4= 16,000 (1 + 0.08)^4= 22,197.14
Total investment after 4 years = Amount (A) = RM 22,197.14
(b) After four years, the company increased its interest rate to 10% per year, compounded every 6 months. We want to find out the total investment at the end of EIGHT years. The formula for the effective interest rate per year is:i = (1 + (R/n))^n - 1where, i is the effective interest rate
R is the interest rate, n is the number of times the interest is compounded.8 years = 2 (compounding per year) x 4 (years) = 8 compounding periods2
(a) Effective interest rate per year:
Let's start by figuring out the effective interest rate.
Rate of interest (R) = 10%Number of times interest is compounded (n) = 2Time period (t) = 4 years
Effective interest rate per year = i = (1 + (R/n))^n - 1= (1 + (10/2))^2 - 1= (1 + 5)^2 - 1= 1.1^2 - 1= 0.21Total investment after 8 years: Principal (P) = RM 22,197.14
Effective Interest Rate (i) = 0.21
Number of times interest is compounded (n) = 2
Time period (t) = 4 x 2 = 8 years
Amount (A) = P (1 + r/n) ^ nt= 22,197.14 (1 + (0.21/2))^16= 22,197.14 x 1.1078= RM 24,467.25
Therefore, the total investment at the end of EIGHT years is RM 24,467.25.
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The followings are the major goals of economic policy (fiscal and monetary), except?
a. Lower unemployment rate to zero (0) b. Achieve full-employment c. Encourage economic growth d. Control inflation
"Lower unemployment rate to zero (0)" is not a goal of economic policy.
Economic policies, whether monetary or fiscal, are designed to serve different purposes and are aimed at addressing particular challenges in a country’s economy. The major goals of economic policies are stated below except one.Goals of Economic PolicyThe major goals of economic policy include the following: Encourage Economic Growth: Economic growth is a priority objective of economic policy. Economic growth refers to the increase in the production of goods and services in a country over a given period. Economic growth can help improve living standards, reduce poverty, and provide jobs for the population. Achieve Full Employment: Economic policy aims to achieve full employment by creating jobs for the labor force. When the labor force is fully employed, it means that everyone who wants to work has the opportunity to do so. This can help reduce poverty and improve living standards.Lower Inflation: Inflation is a persistent rise in the general level of prices of goods and services over time. It erodes the purchasing power of money and reduces the value of savings. Therefore, one of the goals of economic policy is to control inflation. This is usually done by reducing the money supply.Control of Unemployment: Economic policy aims to keep unemployment at a reasonable level. Unemployment occurs when people who are willing and able to work cannot find jobs. This can lead to poverty, social unrest, and other problems that can undermine the stability of the economy.The major goals of economic policy include achieving full employment, encouraging economic growth, and controlling inflation. Therefore, the answer to this question is letter A, "Lower unemployment rate to zero (0)" is not a goal of economic policy.
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Find one (1) real-world example of operations management on one of the topics/themes listed below that interest you by researching them on the internet (example should be in the last three (3) months). Describe it in your discussion posting and whether you have any experience with it. Find one or more learning objectives from the syllabus, to which your example most closely align, and listed it in your discussion posting. Be sure to reply to at least two other students' discussion postings. List of Topics/Themes: • Art/Music/Film/Graphic Design/Mass Communication • Business/Entrepreneurship/Hospitality/Management/Marketing/Finance & Accounting • Education • Health Science/Health Management/Emergency Medical Services/Nursing/Medical Facilities Management & Administration • Automotive/Transportation/Supply Chain/Engineering/Construction Management • Public Safety/Criminal Justice . Government/Public, Social Services/Immigration Services • Environment Management • Technology/Telecommunications/Mobile/Social Media/Internet of Things/Robotics/AI/VR
Airbnb is an excellent example of operations and supply chain management in the Hospitality industry. Airbnb is an excellent example of Operations and Supply Chain Management in action.
Topic: Business/Entrepreneurship/Hospitality/Management/Marketing/Finance & Accounting
Real-world example of operations management:I would like to describe an example of operations management in the Hospitality industry. One of the best examples is how Airbnb, the online marketplace for vacation rentals, uses the latest techniques to manage its operations.
Airbnb has its headquarters in San Francisco, California, and operates in 191 countries with over 100,000 cities with over 6 million accommodations listed on its platform.The demand and supply of properties are not constant and always change.
Hence, Airbnb has to plan and manage the supply chain of properties available for its guests. Airbnb is known for a sophisticated algorithm to offer recommendations to its users. Airbnb takes over 100 signals into account to match guests with the best possible properties for their needs and budget.
Learning Objective:
The above example closely aligns with the topic "Operations and Supply Chain Management." As we can see, Airbnb is using the latest techniques to manage its operations. Airbnb needs to plan and manage the supply chain of properties available for its guests.
In other words, Airbnb has to manage the demand and supply of properties available. Hence, it is an excellent example of Operations and Supply Chain Management in action. It aligns with the learning objective of "to understand the importance of operations and supply chain management in enhancing business performance."
Conclusion:
In conclusion, Airbnb is an excellent example of operations and supply chain management in the Hospitality industry. Airbnb's unique algorithm uses over 100 signals to match guests with the best possible properties for their needs and budget.
Airbnb is an excellent example of Operations and Supply Chain Management in action, and it aligns with the learning objective of "to understand the importance of operations and supply chain management in enhancing business performance."
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OSCM 3430-01F/07F Ethan Cox 06/08/22 5:09 PM 2 Save Homework: M3 Assignment 2 Question 1, Problem 9 Pa HW Beore: 0%, 0 of 00 O Point: 0 of 4 Yoksa Press, Inc. buys paper in 1,500 pound tols for printing Annual demands 3,000 The cost per rot is $575, and the areal hoiding cost is 16 percent of the coal. Cacho a. How many roles should Vedow Press order t Yellow Press houso order rolls at a time (Enter your response rounded to the nearest whole number)
Once we have the EOQ, we will round it to the nearest whole number to determine the number of rolls Vedow Press should order at a time.
To determine how many rolls Vedow Press should order at a time, we need to consider the economic order quantity (EOQ) formula. The EOQ formula helps to find the optimal order quantity that minimizes the total inventory costs.
The formula for EOQ is:
EOQ = √((2 * D * S) / H),
where:
D = Annual demand = 3,000 rolls,
S = Ordering cost per order, and
H = Holding cost per unit.
Given that the cost per roll is $575 and the holding cost is 16% of the cost, we can calculate the ordering cost and holding cost as follows:
Ordering cost per order (S) = Cost per roll * Number of rolls = $575 * Number of rolls,
Holding cost per unit (H) = Holding cost as a percentage * Cost per roll = 0.16 * $575.
Substituting these values into the EOQ formula, we have:
EOQ = √((2 * D * S) / H)
= √((2 * 3,000 * ($575 * Number of rolls)) / (0.16 * $575))
Simplifying the equation, we can cancel out the common factor of $575:
EOQ = √((2 * 3,000 * Number of rolls) / 0.16)
Now we can calculate the EOQ by substituting the values and solving the equation. Once we have the EOQ, we will round it to the nearest whole number to determine the number of rolls Vedow Press should order at a time.
Please provide the values for the ordering cost per order (S) and the holding cost as a percentage, and I can assist you further in calculating the EOQ.
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Consider a snack bar in a shopping mall.Averagely, customers comes to the bar every 2 minutes.The current throughput efficiency is 30%and a average number of10people stand in the queue waiting to be served. Supposing that at the beginning of the serving process, there are already5people in the queue.1.Please estimate the current average time to serve a single customer?(3points)(Hint: UseLittle’s lawto calculate the throughput time firstly and then calculate the working content)2.Howmany staff areneededcurrentlyto ensure that there are never more than 5peoplein the queue?(2points)3.Suppose the manager wants to ensure increase the throughput efficiency to 50%, how many more staff does he need to hire?
To estimate the current average time to serve a single customer, we can use Little's law. Little's law states that the average number of customers in a system [tex](\(L\))[/tex] is equal to the average arrival rate [tex](\(\lambda\))[/tex] multiplied by the average time a customer spends in the system [tex](\(W\)).[/tex]
In this case, the average arrival rate is 1 customer every 2 minutes[tex](\lambda = \frac{1}{2}\) min)[/tex] and the average number of customers in the
system is 10 [tex](\(L = 10\))[/tex]. We can rearrange Little's law to solve for the average time [tex](\(W\)) as \(W = \frac{L}{\lambda}\). Plugging in the values, we get \(W = \frac{10}{\frac{1}{2}} = 20\)[/tex] minutes.
To ensure that there are never more than 5 people in the queue, we need to determine the number of staff needed to handle the incoming customers at the desired throughput efficiency.
Since the current throughput efficiency is 30%, we can calculate the actual throughput by multiplying the arrival rate [tex](\(\lambda\))[/tex] by the efficiency. The current throughput is [tex]\(\frac{1}{2} \times 0.3 = 0.15\)[/tex] customers per minute. To handle this throughput without exceeding a queue of 5 people, we need enough staff to serve customers at a rate of 0.15 customers per minute.
If the manager wants to increase the throughput efficiency to 50%, we can calculate the desired throughput using the same method as in the previous step. The desired throughput would be [tex]\(\frac{1}{2} \times 0.5 = 0.25\)[/tex] customers per minute. To determine the additional staff needed, we compare the desired throughput to the actual throughput. The difference is [tex]\(0.25 - 0.15 = 0.1\)[/tex] customers per minute. Therefore, the manager needs to hire enough additional staff to handle an additional 0.1 customers per minute.
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How
can game theory help conceptualise teamwork? Illustrate with
examples
management / organisations theory
Please, provide full answer (400-450 words)
Game theory can provide valuable insights into the conceptualization of teamwork within organizations. By analyzing the strategic interactions and decision-making processes among team members, game theory helps understand how individuals' choices and behaviors impact the overall performance of a team. Here, we will explore two examples that illustrate the application of game theory in conceptualizing teamwork.
1. Prisoner's Dilemma:
The Prisoner's Dilemma is a classic game theory scenario often used to analyze cooperative behavior. In the context of teamwork, this scenario can help conceptualize situations where individual team members face a choice between cooperation and self-interest. Consider a project where two team members, Alice and Bob, have the option to either collaborate effectively or work independently to achieve their goals. If both Alice and Bob choose to collaborate (cooperate), they can achieve higher productivity and better outcomes for the project. However, if one of them decides to work independently (defect), they may gain personal advantages but harm the overall project. If both team members defect, the project's performance will suffer. Game theory allows us to analyze the incentives and strategies that individuals adopt in such situations, emphasizing the importance of trust, communication, and mutual cooperation for successful teamwork.
2. Stag Hunt:
The Stag Hunt is another game theory concept relevant to teamwork, emphasizing the trade-off between individual and collective goals. In this scenario, team members must decide whether to collaborate on a project that requires joint effort and coordination or pursue individual tasks with potentially lower risk and effort. Each team member has the choice to hunt a stag (a large and valuable prey) or a hare (a smaller and easier target). Hunting a stag requires cooperation and coordination, as both team members need to work together. However, hunting a hare can be done individually without relying on the other team member. If both individuals choose to hunt a stag, they achieve a higher payoff collectively. However, if one person chooses to hunt a stag while the other hunts a hare, the individual hunting a hare will achieve a higher personal payoff, but the overall outcome for the team will be suboptimal. Game theory helps us understand the dynamics of decision-making in these situations, highlighting the need for alignment, shared goals, and trust among team members.
In both examples, game theory provides a framework to analyze the interplay between individual choices and collective outcomes in teamwork. It underscores the importance of cooperation, communication, and trust among team members to achieve the best possible results. Understanding the strategic interactions within a team allows organizations to design incentive structures, promote collaboration, and foster an environment conducive to effective teamwork.
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Khaled has developed a new technology device that is so exciting he is considering quitting his job in order to produce and market it on a large-scale basis. Khaled will rent a small factory for 2,000dhs per month for production purposes. Utilities will cost 500dhs per month. Khaled has already taken an industrial design course at Dubai Men's College to help prepare for this venture. The course cost 800dhs. Khaled will rent production equipment at a monthly cost of 4,000dhs. He estimates the material cost per unit will be 20dhs, and the labor cost will be 10dhs per unit. He will hire workers and spend his time promoting the product. To do this he will quit his job which pays 20,000dhs per month. Advertising and promotion will cost 3,500dhs per month. Required: 1- 2- Calculate the total Fixed cost 3- Calculate the total variable cost per unit 4. If the machine max production capacity is 1000 units per month, what is the selling price he should set to break even monthly?<< 5- If Khaled to eam a profit equal to his current salary, for how much he should sell the unit?- 6- What is the fixed cost per unit for maximum production? 7- What is the total variable cost for maximum production? 8- Ilf Khalid set the selling price for 70DHS on max production and managed to reduce the total fixed cost by 2% what is the profit increase percentage 9- If Khalid set the selling price for 70DHS on max production and managed to reduce the total variable cost by 2% what is the profit increase percentage
To answer your questions, let's calculate the various costs and determine the selling price and profit percentages.
Total Fixed Cost:
Rent: 2,000dhs/monthUtilities: 500dhs/monthIndustrial design course: 800dhsTotal fixed cost = Rent + Utilities + Course cost = 2,000dhs + 500dhs + 800dhs = 3,300dhsTotal Variable Cost per Unit:Material cost per unit: 20dhsLabor cost per unit: 10dhsTotal variable cost per unit = Material cost + Labor cost = 20dhs + 10dhs = 30dhsBreak-Even Selling Price:
To calculate the selling price needed to break even, we need to consider the fixed costs and variable costs per unit.Monthly fixed cost = Total fixed cost = 3,300dhsMax production capacity = 1,000 units/monthTotal variable cost per month = Total variable cost per unit * Max production capacity = 30dhs/unit * 1,000 units = 30,000dhsBreak-even point = Monthly fixed cost + Total variable cost per month = 3,300dhs + 30,000dhs = 33,300dhsSelling price to break even = Break-even point / Max production capacity = 33,300dhs / 1,000 units = 33.3dhs/unitSelling Price to Match Current Salary:
To earn a profit equal to Khaled's current salary, we need to consider his monthly salary and the total cost per unit.Khaled's current salary = 20,000dhs/monthTotal cost per unit = Total fixed cost + Total variable cost per unit = 3,300dhs + 30dhs = 3,330dhsSelling price to match current salary = Khaled's current salary / Max production capacity = 20,000dhs / 1,000 units = 20dhs/unitFixed Cost per Unit for Maximum Production:Fixed cost per unit = Total fixed cost / Max production capacity = 3,300dhs / 1,000 units = 3.3dhs/unitTotal Variable Cost for Maximum Production:Total variable cost for maximum production = Total variable cost per unit * Max production capacity = 30dhs/unit * 1,000 units = 30,000dhsProfit Increase Percentage with Reduced Total Fixed Cost:
Selling price = 70dhs/unitReduced total fixed cost = Total fixed cost - (Total fixed cost * 2%) = 3,300dhs - (3,300dhs * 0.02) = 3,234dhsNew profit = (Selling price - Total cost per unit) * Max production capacity= (70dhs - 33.3dhs) * 1,000 units = 36.7dhs * 1,000 units = 36,700dhsIncrease in profit = New profit - Old profit = 36,700dhs - 33,300dhs = 3,400dhsProfit increase percentage = (Increase in profit / Old profit) * 100 = (3,400dhs / 33,300dhs) * 100 ≈ 10.21%Profit Increase Percentage with Reduced Total Variable Cost:
Selling price = 70dhs/unitReduced total variable cost = Total variable cost per unit - (Total variable cost per unit * 2%)= 30dhs - (30dhs * 0.02) = 29.4dhsNew profit = (Selling price - Total cost per unit) * Max production capacity= (70dhs - 29.4dhs) * 1,000 units = 40.6dhs * 1,000 units = 40,600dhsIncrease in profit = New profit - Old profit = 40,600dhs - 33,300dhs = 7,300dhsProfit increase percentage = (Increase in profit / Old profit) * 100 = (7,300dhs / 33,300dhs) * 100 ≈ 21.93%To know more about profit visit-
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For each of the following accounts, indicate whether the account is temporary or permanent: Account Temporary or Permanent 1. Rent Expense 2. Accounts Payable 3. Service Revenue 4. Common Stock 5. Accounts Receivable 6. Retained Earnings 7. Dividends 8. Unearned Revenue
A company’s accounting system records transactions that affect different accounts. Every account can be categorized into two primary classifications, namely, permanent accounts and temporary accounts. The main differences between the two account types are their contents and usage in the accounting process.Permanent AccountsPermanent accounts refer to accounts that record transactions throughout the entire life of a company. These accounts do not close at the end of a financial year but carry forward to the next fiscal year.
A company’s accounting system records transactions that affect different accounts. Every account can be categorized into two primary classifications, namely, permanent accounts and temporary accounts. The main differences between the two account types are their contents and usage in the accounting process.Permanent AccountsPermanent accounts refer to accounts that record transactions throughout the entire life of a company. These accounts do not close at the end of a financial year but carry forward to the next fiscal year. Permanent accounts track a company’s financial status and include accounts that have financial information that does not reset every fiscal year. Examples of permanent accounts are Common stock, Retained earnings, Accounts receivable, and Accounts payable.Temporary AccountsTemporary accounts, also referred to as nominal accounts, refer to accounts that accumulate transactions for a specified period, usually a fiscal year, and are closed at the end of the year. These accounts collect revenue, expense, and gain/loss transactions. At the end of the fiscal year, the balances of the temporary accounts are transferred to the retained earnings account, a permanent account. Examples of temporary accounts are Service revenue, Rent expense, Dividends, and Unearned revenue.Indicating if the given account is temporary or permanent:1. Rent Expense – Temporary account2. Accounts Payable – Permanent account3. Service Revenue – Temporary account4. Common Stock – Permanent account5. Accounts Receivable – Permanent account6. Retained Earnings – Permanent account7. Dividends – Temporary account8. Unearned Revenue – Temporary accountIn conclusion, temporary accounts are used to record transactions that affect the current fiscal year, while permanent accounts record transactions that affect the entire life of the company.
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You are about to borrow $10,000 from a bank at an interest rate of 9% com-pounded annually. You are required to make five equal annual repayments in theamount of $2,571 per year, with the first repayment occurring at the end of year 1.Show the interest payment and principal payment in each year.
In each year, the interest payment is calculated based on the remaining principal amount multiplied by the interest rate. The principal payment is the difference between the total payment and the interest payment. The calculation is shown in the attached image below.
The interest payment and principal payment are components of a loan repayment. When making loan repayments, a portion of the payment goes towards paying off the interest accrued on the loan, while the remaining portion goes towards reducing the principal amount borrowed.
The interest payment for the first year is calculated based on the outstanding principal balance at the beginning of the year.
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In the economy of Friedman, the central bank increased the money supply, and people kept spending money just as often. Production didn't rise, and only prices increased. What do we know about this economy? O a. Before the central bank increased the money supply, this economy was below potential output O b. OC. All of these are true Before the central bank increased the money supply, there were lots of workers who had the right skills and were willing to work for the current wages. Od. Before the central bank increased the money supply, there were NO workers who had the right skills and were willing to work for the current wages. Oe. None of these are true
Based on the information provided, we do not have enough information to determine the accuracy of any of the statements presented. So, we cannot say about the true statement after analyzing it from Friedman's framework.
Based on the given scenario, we can analyze the implications and draw conclusions about the economy in Friedman's framework. Let's examine each statement:
a. Before the central bank increased the money supply, this economy was below potential output.
This statement cannot be inferred from the information provided. The scenario only mentions that the central bank increased the money supply and people continued to spend money at the same rate. There is no explicit information about the economy operating below or at potential output before the increase in money supply.
b. All of these are true.
This option cannot be confirmed because statement a is not known to be true. Therefore, we cannot conclude that all the statements are true.
c. Before the central bank increased the money supply, there were lots of workers who had the right skills and were willing to work for the current wages.
There is no information provided in the scenario regarding the availability of skilled workers and their willingness to work for the prevailing wages. Therefore, we cannot conclude that this statement is true based on the given information.
d. Before the central bank increased the money supply, there were NO workers who had the right skills and were willing to work for the current wages.
Similarly to the previous statement, there is no information given about the availability of skilled workers or their willingness to work for the existing wages. Therefore, we cannot conclude that this statement is true based on the given information.
e. None of these are true.
Based on the analysis above, we cannot confirm that statements a, c, or d are true. Therefore, we cannot conclude that none of the statements are true.
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Connect Homework [due Day 7) i 2 ts eBook ezto.mheducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl= eferences ic Exercise 3-10 Preparing Financial Statements from a Trial Balance LO P6 Following are the accounts and balances from the adjusted trial balance of Stark Company. Notes payable Prepaid insurance Interest expense Accounts payable Wages payable Cash Wages expense Insurance expense Stark, Capital Services revenue $ 24,000 3,800 768 8,000 1,700 36,000 Accumulated depreciation-Buildings Accounts receivable. Utilities expense Interest payable Unearned revenue Supplies expense Buildings 8,800 3,100 Stark, Withdrawals Expenses 102,800. Depreciation expense-Buildings 85,000 Supplies Complete this question by entering your answers in the tabs below. Income Statement of Statement Owners Equity Prepare the income statement for the year ended December 31. STARK COMPANY Income Statement For Year Ended December 31 Saved Prepare the (1) Income statement and (2) statement of owner's equity for the year ended Decem December 31. The Stark, Capital account balance was $102,800 on December 31 of the prior ye Balance Sheet $ 28,000 6,600 2,600 620 1,450 468 170,000 9,500 8,500 1,458
The income statement for the year ended December 31 for STARK COMPANY is -$5,168, indicating a loss for the year.
To prepare the income statement for the year ended December 31, we need to calculate the net income by subtracting total expenses from total revenues. Here's the income statement for Stark Company:
STARK COMPANY
Income Statement
For Year Ended December 31
Revenues:
Services revenue $36,000
Expenses:
Wages expense $24,000
Insurance expense $3,800
Interest expense $768
Utilities expense $1,700
Depreciation expense-Buildings $8,800
Supplies expense $3,100
Total Expenses $41,168
Net Income:
Net Income = Revenues - Expenses
Net Income = $36,000 - $41,168 = -$5,168
The income statement shows the revenue earned and the expenses incurred during the year. In this case, the company's revenue is $36,000 from services. The expenses include wages expense of $24,000, insurance expense of $3,800, interest expense of $768, utilities expense of $1,700, depreciation expense on buildings of $8,800, and supplies expense of $3,100. The total expenses amount to $41,168. After subtracting the expenses from revenues, the net income is calculated as -$5,168, indicating a loss for the year.
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